Rallis India allots 980000 Shares to Tata Chemicals

Rallis India Ltd has announced that the Company has allotted, on November 09, 2009, 9,80,000 Equity Shares of Rs. 10/- each, at a premium of Rs. 898.51 per share, to the main Promoter of the Company, Tata Chemicals Ltd on a preferential basis, in accordance with the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

With the allotment of the shares as above, Tata Chemicals Ltd now holds 64,89,441 shares, comprising 50.06% of the Equity Capital of the Company. Consequently, Rallis India Ltd has now become a subsidiary of Tata Chemicals Ltd.

The stock was trading at Rs.924.45, up by Rs.36.45 or 4.10%. The stock hit an intraday high of Rs.944 and low of Rs.893.10.

The total traded quantity was 12981 compared to 2 week average of 8682.

Source : Equity Bulls

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